Getting Attribution Right: Today’s Advertising Imperative

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Matthew Fanelli is Senior Vice President, Digital, at MNI Targeted Media Inc., and its three business units, Targeted Media Health, MNI, and Harpoon Digital. He leads a team responsible for the daily operation of all of our digital business, including ad strategy and analysis, media planning and buying, new business and product development, and campaign reporting and optimization. Improving the systems and processes needed to make MNI an all-encompassing resource for advertisers is among Matt's foremost priorities at the company.

Matt is involved with numerous industry affiliates, including Media Buyers/Planners Network, Automotive Digital Marketing, Revedia Group, Online Advertising Professionals, ThoseIn Media, and the IAB. In 2017, Matt was named to the Board of Directors at Digital Remedy.

Matt earned his degree in Mass Communications from Iona College and resides in Eastchester, NY.

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We’ve always said that digital is the best kind of advertising because it’s accountable. That’s not really true, though, is it? At least, not for most marketers. Every advertising conversion requires multiple touch points across both online and offline channels says, Matthew Fanelli, SVP Digital, MNI Targeted Media

We’ve always said that digital is the best kind of advertising because it’s accountable. That’s not true, though, is it? At least, not for most marketers.

At the trade events I attend, marketers are always asking each other what’s working and what isn’t: Mobile? Native? Video? I’m surprised when I hear how many of them don’t know what is working – especially since I’m sure none of them have bottomless budgets! Don’t they want to know which new tactics are contributing to the ultimate success or failure of their campaigns? They may have an inkling and insights in certain areas, but the majority don’t have the time or resources to formulate a true data analytic deep dive into what’s driving consideration and purchase.

This maps straight back to attribution – and attribution, when done right, should answer one critical question: What’s driving sales?

Traditional attribution models, like first-touch, last-touch, and U-shaped are used frequently, and while they’re better than nothing, these models inherently flawed. The marketer is deciding which touchpoints along the path to purchase are the most valuable – without data to support that decision. That means that optimization might be flawed, which can lead to potentially expensive mistakes.

Algorithmic attribution is a much more reliable and accurate option. In this model, machine learning and yes, algorithms, help accurately weight each touchpoint. Attribution becomes objective, rather than subjective – taking the marketer’s bias out of the equation. More faith can be placed in the attribution model, and optimization choices will be backed by data. Unfortunately, not every marketer has access to the technology that delivers algorithmic attribution; it can be costly to implement.

But worth it, because attribution - whichever model a marketer selects - needs to be a priority because it makes marketing so much more efficient and effective. Typically, implementing attribution will result in a 15-35% gain in media efficiency - and a corresponding lift in ROI.

This isn’t to cast a shadow on analytics – they’re important, too. Do they deliver the big picture: Is the campaign working? Analytics can provide a little more than a yes-or-no response. They just don’t provide enough insight for marketers to meaningfully improve their success. Attribution goes deeper and provides those insights that can ultimately map out the road to an outperforming campaign that drives results and makes campaign dollars work harder.